World News
Global Miner Embraces LNG Shipping
Global miner BHP is to bring gas-fuelled ships into its supply chain.
The company has put out a tender for part of its over freight requirement to be transported via liquified natural gas-powered ships.
BHP said in a statement that it is looking to put up to 10% of its iron ore under LNG-fuelled transport, according to the International Mining publication.
In addition, it said that the tender will consider "other innovative solutions that can lower greenhouse gas emissions and increase productivity from BHP's freight requirements".
Among the alternative fuel sources for shipping, LNG is widely seen as the one to with significant demand potential over the short- to medium-term.
Critics of the fuel point out that it makes a significant contribution to the growth of greenhouse gas emissions.
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| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 565.50 | 4.50 | 678.50 | 4.50 |
| Rotterdam | 512.00 | 3.50 | 676.00 | 9.00 |
| Houston | 552.00 | 3.00 | 682.00 | 4.00 |
| Fujairah | 555.50 | 7.50 | 753.00 | 1.50 |
| Global 20 Ports Average | 583.50 | 4.00 | 762.50 | 2.50 |
| Global 4 Ports Average | 546.50 | 4.50 | 697.50 | 2.50 |
| Global Average Bunker Price | 632.50 | 2.00 | 811.00 | 1.50 |
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